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Human resource management

Research indicates that there are many things a company does but it should always concentrates on what it can produce best. The internal analysis facilitates the formulation of strategic plan which requires a clear understanding of the internal strengths acquired over time and any weakness that adversely impact on performance. Distinctive competencies are things that give a firm an advantage over similar businesses.

Research also indicates that no matter how attractive an opportunity may be the business must have the competencies to capitalize on it. An opportunity without the competence to capture it is no really an opportunity to the business. (Baker, 2000) Decision making has become a complicated affair since all the decisions have to adhere to international standards. Human resource management policies, strategies and practices are fundamental tools for any organization.

The most important asset for any organization is its human resource and therefore all issues affecting the workforce will be affecting the organizational performance directly. It has been found that issues of planning, recruitment, selection, retention, motivation, evaluation and industrial relations for employees are of grave concerns and are usually addressed through effective human resource management practices. (Mark, 2001)

Reference

Baker, M. (2000): Marketing Management and Strategy, 3rd Edition: London.Macmillan Business

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Bowker, R. (1991): Environmental Abstracts. New York, Bowker A and I publishing Cox, H. and Blake, B. (1991): Managing cultural diversity: implications for organizational competitiveness. Academy of Management Executive Vol. 5 Cinchona, M. R. , Ronkainen, I. A, (2005): International Marketing, 7th Edition, Thomson Daniels, J. , Radebaugh, L. , Sullivan, D. (2007): International Business. Environments and Operations, Upper Saddle River, Prentice Hall

Hill C. (2005): Global business today, 4th Edition, New York: McGraw/Irwin Hoyer, S (2001): HRM concepts, Practices and Strategies- 4th European Edition. Boston Houghton Mifflin Kotare M and Helena K. , (2004): Global Marketing Management, 3rd Edition, New York Knight, F (2007): The Ethics of Business Competition and Other Essays, University of Chicago Press Lovelock, J. (2006): Services Marketing, People, Technology, and Strategy. New York, Prentice Hall

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